In the latest trading session, Kirkland Lake Gold (KL) closed at $36.69, marking a +1.44% move from the previous day. This change outpaced the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the gold producer had lost 19.53% in the past month. In that same time, the Basic Materials sector lost 1.56%, while the S&P 500 gained 3.63%.
Investors will be hoping for strength from KL as it approaches its next earnings release, which is expected to be February 19, 2020. On that day, KL is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 71.15%. Our most recent consensus estimate is calling for quarterly revenue of $414.47 million, up 47.85% from the year-ago period.
Investors should also note any recent changes to analyst estimates for KL. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.72% higher within the past month. KL is currently a Zacks Rank #3 (Hold).
In terms of valuation, KL is currently trading at a Forward P/E ratio of 10.84. This represents a discount compared to its industry's average Forward P/E of 15.52.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 110, which puts it in the top 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow KL in the coming trading sessions, be sure to utilize Zacks.com.